Note: This is my analysis. Always take your precautions and strategies. I'm just trying to give a point of view and possible increases or decreases👍.

$SEI Technical Analysis of the $SEI/USDT Chart (1 Week)

1) Overall Trend (Macrocycle):

The chart shows a clear dominant bearish trend. From its all-time highs (or at least those shown on the chart, near $1.15), the price has been consistently making lower highs and lower lows. This is the fundamental definition of a prolonged downtrend.

2) Support and Resistance Levels:

It has broken down several important support levels during its decline.

Currently, the price is at $0.2611, close to what could be new support levels. Previous price levels (such as $0.40-$0.50 and $0.70-$0.80) would now act as key resistance levels if the price attempts a rebound.

3) Trading Volume:

High volume is observed at the peaks and in the initial phase of the decline.

For most of the current downtrend, volume has generally been lower, with a few exceptions in recent weeks where a slight increase in buying volume has been seen, but it has not been sustained or strong enough to reverse the main trend. Low volume in a downtrend can indicate a lack of interest or that most sellers have already exited the market, but also that there is not enough buying pressure for a significant reversal.

Conclusion: Bullish or Bearish?

Based exclusively on technical analysis of this weekly chart:

The dominant trend is clearly bearish. Technical indicators (downsloping moving averages and bearish crossover), price action (lower highs and lower lows), and volume (generally decreasing on the downside) suggest that bearish pressure will likely continue or that the asset will remain in a consolidation phase with a strong bearish bias.

There are no clear signs of a strong bullish reversal on this weekly timeframe. Any upward movement would, for now, be a correction within the main downtrend and would face significant resistance at previous price levels.